When was Newsweek founded and who were the initial investors?
Newsweek began its life on the 17th of February 1933, emerging from a unique alliance of Wall Street wealth and journalistic ambition. Thomas J. C. Martyn secured funding from a group of stockholders that included Ward Cheney of the Cheney silk family, John Hay Whitney, and Paul Mellon, the son of Andrew W. Mellon. This was the first time the Mellon family attempted to function journalistically on a national scale, investing approximately one million dollars to launch the magazine.